Major Ripple Advancements and Top XRP Price Forecasts as of Late

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• Ripple plans to launch a stablecoin, Ripple USD (RLUSD), in 2024 on the XRP Ledger and Ethereum, despite criticism from the Securities and Exchange Commission.
• Meanwhile, the price of XRP has fallen, but some analysts see the current level as a buying opportunity.

What's new in Ripple?

One of Ripple's latest developments is its upcoming stablecoin pegged to the US dollar, which should serve as a bridge between traditional finance and the cryptocurrency industry.

Earlier this week, the company He said He. She will It will be called Ripple USD (symbol RLUSD) and will Available on XRP Ledger and Ethereum. release It is scheduled For 2024, but the exact date is still unknown.

Although not yet launched, the stablecoin has already received criticism from the US Securities and Exchange Commission (SEC), which Named They are “unregistered crypto assets.”“

The agency and Ripple have been facing off for years. Those who have been following the progress of the cryptocurrency sector in the past few years should be aware of the lawsuit between the two entities which centers around allegations that the company conducted an unregistered securities offering by selling its XRP token.

The case recently entered the trial phase, with the SEC seeking to impose a $2 billion fine on Ripple. The company did not welcome the idea suggestion The penalty shall not exceed $10 million. One of her main arguments is that there are no direct allegations of fraud in the case.

For those interested in delving deeper and learning more about the legal dispute between entities, please watch the dedicated video below:

XRP price forecast

Ripple's native token is in a deep red zone on a weekly range, currently trading at around $0.47. However, analysts like X EGRAG CRYPTO USER remain unfazed, seeing the sustained level as a buying opportunity.

Merchant I touched The Relative Strength Index (RSI), which has reached low points over the past few days. Up to this point the ratio Situations At 42, while last week it dropped to less than 25.

The XRP Relative Strength Index measures the speed and variability of price movements and can suggest the next potential move for the asset. A ratio above 70 indicates that the token may be overbought, which means a correction may be imminent.

Before that Matthew Dixon predicts that XRP's valuation will head south if US inflation rises. However, the rate was lower than expected, and Token The price rose to nearly $0.50. Soon after, though decreased Once again after the US Federal Reserve decided to keep interest rates unchanged.